Reorganization and liquidation of insurance companies in accordance with the provisions of the Solvency II Directive Cover Image

Реорганизација и ликвидација друштава за осигурање сходно одредбама Директиве солвентност II
Reorganization and liquidation of insurance companies in accordance with the provisions of the Solvency II Directive

Author(s): Jasmina Vukotić
Subject(s): Economy, EU-Legislation
Published by: Институт за међународну политику и привреду
Keywords: Insurance;insurance undertakings;reorganization;winding-up proceedings;the home Member State;competent authorities

Summary/Abstract: This paper presents the provisions of Solvency II relating to reorganization measures and winding-up proceedings of insurance undertakings, including common provisions for both of them. The aim of these provisions is to ensure the mutual recognition of reorganization measures and winding-up legislation of the Member States concerning insurance undertakings, as well it should be ensured that reorganization measures and decisions on winding-up proceedings, which were adopted or taken by the competent authorities of a Member State, produce full effect throughout the Community. The paper first presents the reorganization measures concerning insurance undertakings (their definition, competent authorities, publication of decisions on reorganization measures, information’s to known creditors, etc.), after that the winding-up proceedings (their definition, competent authorities, applicable laws, what the law of the home Member State shall determine at least, treatment of insurance claims, withdrawal of the authorization, publication of decisions on winding-up proceedings, etc.) and finally the common provisions (these provisions mainly relate to the legal effects of reorganization measures and winding-up proceedings).

  • Issue Year: 2015
  • Issue No: 51
  • Page Range: 160-175
  • Page Count: 16
  • Language: Serbian